25 Phelps Street, Surry Hills NSW 2010
25 Phelps Street, Surry Hills NSW 2010
Compact terrace | 95m² internal | three outdoor spaces | DA-approved extension | very small lot
The property stands out for its cleverly renovated interior within a compact terrace form. High ceilings, a skylit kitchen, and polished floors give it an airy feel that belies the 95m² internal area. Three outdoor spaces (a walled patio, upper sun deck, and master balcony) are exceptionally rare at this scale and transform the small footprint into a home that feels much more generous. This is a classic inner-city terrace that has been modernised to a high standard, requiring nothing but a suitcase. It serves best as a lock-and-leave residence for professional couples or downsizers who want CBD proximity, village charm, and strong indoor-outdoor flow without a large landholding. The DA-approved extension opportunity for an upstairs bath or bedroom adds meaningful future upside while the current layout remains fully liveable.
Value may be influenced by the extremely small land size, which limits future expansion beyond the approved plans and constrains parking options. The absence of a dedicated car space might be a drawback for some buyers. However, the property’s superior presentation and multiple outdoor areas may help it hold value well relative to less updated terraces. The DA-approved extension could be seen as an opportunity, but its practical yield depends on council requirements and construction costs. For a small terrace, this home is positioned strongly within its price band.
Detailed Independent Property Report prepared by PropCred Analyst team for 25 Phelps Street, Surry Hills NSW 2010
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
2
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Market Insight
Surry Hills is a tightly held inner-Sydney market defined by a clear split between premium houses and softer units. Median house prices range from $2.35 million to $2.66 million, with annual growth of 11.9% to 18.7% depending on the data source, while unit medians sit near $885,000–$950,000, mostly recording modest declines over the past year. The 58.1% strata share points to sustained apartment demand from young professionals and investors, but houses are drawing established families and high-income earners. Sales activity for houses is thin at 27–131 transactions, and days on market average 35–41, reflecting scarce supply. House rents range from $985 to $1,250 weekly, units around $800, with limited vacancy. Growth drivers include transport connectivity, school catchments, and terrace scarcity; key risks are affordability constraints and weaker unit price dynamics.
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PropCred Estimated Value
Comparable Sales: 23 Phelps Street sold $1.095M; 67 Phelps Street sold $2.88M | Property Price Band: $1.3M–$1.4M | Value Drivers: condition, outdoor amenity, DA extension potential
Bedrooms
2
Bathroom
1
Parking
-
Land
47m²
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